Go to parties. You can't even start to know what you may find on the envelope of serendipity. If you suffer from agoraphobia, send colleagues.

There are systems that use failure as fuel for improvement, where the cost of failure is small.

When an investor focuses on short-term investments, he or she is observing the variability of the portfolio, not the returns - in short, being fooled by randomness.

Probability and expectation are not the same. Its probability and probability times the pay off.

The problem of knowledge is that there are many more books on birds written by ornithologists than books on birds written by birds and books on ornithologists written by birds

When I trade, I don't have an agency problem; I have my neck on the line. When a bank or banker trades, it's not his neck on the line.

Karl Marx, a visionary, figured out that you can control a slave much better by convincing him he is an employee.